Jump to content
House Price Crash Forum
Catch22

House Auctions Bbc Now

Recommended Posts

Mother and daughter buy house at auction without seeing it and need a mortgage. Its a damp dump with bulging wall. Lenders s survey says it is not mortagable. But they are unfazed newby develpers. Daughter reckons 2K spent making it appealing to a buyer should sort it, you know the kind o thing, freezer and the like. 7K deposit at stake here.

:D:D:D

Edited by Catch22

Share this post


Link to post
Share on other sites

yeah i just taped some of it

i think it is

07/11/2005 £60,000 Ter. L No Map 27, Harper Road, Liverpool, Merseyside, L9 1DP

on houseprices

Just trying to find it on rightmove if it is still there

Hmm trying to flog it to another mug - this is the pyramid scam at its best

The cool estate agent said to get rid of it as quick as possible, pass the "problem" to somebody else.

UPDATE

YES ITS STILL FOR SALE £66,950, 7 months later

http://www.rightmove.co.uk/viewdetails-632...pa_n=6&tr_t=buy

1234_HF589891410_IMG_00.JPG

Now wheres my HPC gold star ????

Edited by notanewmember

Share this post


Link to post
Share on other sites

And she's trying to flog it for more than she paid for it.

Update: You beat me to it via your update.

How large a mortgage do they have on it? I presume it isn't let out, so they must be eating the mortgage interest payments.

Edit2: It sold this morning I am told.

Billy Shears

Edited by BillyShears

Share this post


Link to post
Share on other sites

Mother and daughter buy house at auction without seeing it and need a mortgage. Its a damp dump with bulging wall. Lenders s survey says it is not mortagable. But they are unfazed newby develpers. Daughter reckons 2K spent making it appealing to a buyer should sort it, you know the kind o thing, freezer and the like. 7K deposit at stake here.

:D:D:D

What did they pay? L9 is desperate in places, I`ve got some images of whole streets boarded up ready for demoliton presumably under Prezzas pathway clearance scheme.

Share this post


Link to post
Share on other sites

yeah i just taped some of it

i think it is

07/11/2005 £60,000 Ter. L No Map 27, Harper Road, Liverpool, Merseyside, L9 1DP

on houseprices

Just trying to find it on rightmove if it is still there

Hmm trying to flog it to another mug - this is the pyramid scam at its best

UPDATE

YES ITS STILL FOR SALE £66,950, 7 months later

http://www.rightmove.co.uk/viewdetails-632...pa_n=6&tr_t=buy

1234_HF589891410_IMG_00.JPG

Now wheres my HPC gold star ????

What was the auction price?

The Mother has a look of madness in her eyes.

Share this post


Link to post
Share on other sites

She paid £60,000 as confirmed on the houseprice search, and what she said on the program

What a laugh. I've only watched the show once before and a Father and Son bought a place

without looking at it. When the got the keys the place was damp because somebody had come in a stolen the radiators. The theives got in through the double glazing which had been put in back-to-front. The Father and Son put new radiators in and somebody broke in a nicked them again. It's fair to say it was TV in its finest form.

Share this post


Link to post
Share on other sites

? Hey have you rung the agent already?

Maybe someone offered less than what they paid and they and the sellers have conceeded defeat?

Yep, I phoned. I still feel guilty about not phoning up terrified's old EAs to ask about her old flipped house like I said I would, so I'm being more proactive now.

Possibly they gave up and accepted a lower offer. Possibly the free advertising of the house being in a television show makes the difference.

Billy Shears

Share this post


Link to post
Share on other sites

Yep, I phoned. I still feel guilty about not phoning up terrified's old EAs to ask about her old flipped house like I said I would, so I'm being more proactive now.

Possibly they gave up and accepted a lower offer. Possibly the free advertising of the house being in a television show makes the difference.

Billy Shears

Blimey nice one. I guess this case can be closed for now. Just need to check up in 3 months time how much the new buyer paid for it.....

Hopefully they actually saw the property and had it surveyed or this house will never be put right

Share this post


Link to post
Share on other sites

Hi

It seems someone else purchased one in the same street and did it up, and I would think made a profit. I would have probably been on the website, when she purchased, so it should have given her an idea on how much to spend, on somewhere that needed work

1 10/03/2006 £74,500 Ter. L No Map 6, Harper Road, Liverpool, Merseyside, L9 1DP

3 12/08/2005 £45,000 Ter. L No Map 6, Harper Road, Liverpool, Merseyside, L9 1DP

Share this post


Link to post
Share on other sites

The problem is it has major structural problems, and the presenter said you might need at least £25K to put right, not £2K to do the cosmetic stuff as the daughter had hoped.

All the rooms were wonky, the staircase at an angle (you can see it was quite obivious as the agent was nearly falling over trying to go down the staircase); skirting was comming away, door frames slanting. Nearly all the walls have moved a few inches. A number of level headed surveyors had already said the house was unmortgagable.

Their problem was, they went and bought without viewing. :blink:

Edited by notanewmember

Share this post


Link to post
Share on other sites

Blimey nice one. I guess this case can be closed for now. Just need to check up in 3 months time how much the new buyer paid for it.....

Hopefully they actually saw the property and had it surveyed or this house will never be put right

As my paranoid thought for the day, how about if mortgage lenders or other VIs realised that this house is in the public eye, and they bought it themselves so that it became positive, rather than negative, advertising.

Billy Shears

Share this post


Link to post
Share on other sites

I saw most of the program.

3 bed ex-council semi in Plymouth - not of standard construction - steel and concrete pre-fabricated - thrown up after the war. Apparently Halifax and Abbey will lend on them. Bloke bought it for his painter and decorator son to do up. Missed a bit of the program but they made 45k in a few months with just a new kitchen, bathroom and re-decorate throughout.

Bloke bought decrepid but pretty thatched farmhouse plus 34 acres in Dorset. Paid 610k (guide price 400k) - was going to spend 300k on it making it the stuff of dreams - agents reckoned it would be worth 1.1 to 1.2 million when done.

And then the last couple. Mother and daughter bought very damp, subsiding terrace cr@phole in Liverpool - without SEEING it for 60k when agents say they're worth 72k done up! The presenter could not bring himself to say 'you stupid bloody eegits' because this would be a sin against the property always makes money philosophy.

I found it depressing and, as the show ended, I thought 'there will never be a HPC in this country because there are way too may STUPID people for that' (Because someone else bid up to 59k - so she's not the only nutter). Every week this show and lots of garbage like it is brainwashing the great unwashed to invest in property.

Share this post


Link to post
Share on other sites

UPDATE

HELLO IS ANYONE HERE IN THE DEPTHS OF THIS THREAD???

I thought i d dig this up again, because Homes Under The Hammer showed this house again.

Its still on rightmove

£69K No takers so far

http://www.rightmove.co.uk/viewdetails-143...=1&tr_t=buy

21494_666719_IMG_00.jpg

Been on market over a year

OK SO THEY PUT IT ON FOR £66K, NOW ITS BACK ON AT £69K????

houseprices dont show it exchanged hands since 2005....

I am begining to see it now. People will NOT SELL FOR A LOSS. ONLY IF FORCED TO

Edited by notanewmember

Share this post


Link to post
Share on other sites
I am begining to see it now. People will NOT SELL FOR A LOSS. ONLY IF FORCED TO

In the meantime they are paying INTEREST to the mortgage company (remember mortgage is Interest top end heavy

in the first few years), so unless they are renting it, they are making a loss!

Share this post


Link to post
Share on other sites

They are hoping that they can just keep putting the price up to cover all their costs, and hopes some unsuspecting person will bite.

I m sure it will be 75K next year. And so on until they go bankcrupt or the house falls down. :o

Share this post


Link to post
Share on other sites

This seems to be a pattern - overpriced house doesn't sell, so it goes off the market. A few months later it comes back on the market for MORE and still doesn't sell. It's almost as if the sellers are convinced it is 'worth' the overpricing, and not only that, that in the period off the market it has somehow 'gone up in value' simply because 'property always goes up'. The fact that nobody buys the dump doesn't seem to occur to them....madness.

Share this post


Link to post
Share on other sites

Couldn't believe what I was watching this morning. They bought for £60k at auction without a survey. Place is in need of total refurbishment with some structural work required (the two geniuses only found out after they won the bid). Nearly lost their 10% deposit due to late exchange (vendor gave then an extra week - unsurprising considering its such a dog).

And then to top it all, after 12 months of doing nothing to it, their looking for £69k!

It will take something radical to change this mentality. The cure may blight this country for some time.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.